INVESTOR #1 ===================== EQUATIONS: EQ_NB1 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_1 2.68821 .437958 6.13804 [.000] A3_1 .287921 .110018 2.61703 [.009] A2_1 .264739 .108419 2.44182 [.015] P0_1 -.091613 .042356 -2.16292 [.031] P1_1 -.023908 .024436 -.978408 [.328] P2_1 .152073E-02 .024831 .061243 [.951] P3_1 -.017151 .024544 -.698799 [.485] P4_1 -.073057 .029939 -2.44016 [.015] P5_1 -.325108E-02 .030079 -.108085 [.914] P6_1 -.042831 .034999 -1.22375 [.221] P7_1 -.076118 .024772 -3.07279 [.002] P8_1 -.848989E-02 .024057 -.352913 [.724] P9_1 -.029677 .024905 -1.19161 [.233] P10_1 .016636 .023864 .697113 [.486] P11_1 -.321216E-02 .028491 -.112743 [.910] P12_1 -.042283 .026196 -1.61411 [.107] P13_1 .014139 .024928 .567201 [.571] P14_1 -.028435 .023999 -1.18483 [.236] P15_1 -.028458 .023762 -1.19762 [.231] P16_1 -.044362 .024861 -1.78440 [.074] P17_1 -.028311 .024525 -1.15439 [.248] P18_1 .020133 .032351 .622342 [.534] P19_1 -.020394 .028248 -.721963 [.470] P20_1 .502482E-02 .023425 .214505 [.830] P21_1 .064802 .027299 2.37378 [.018] DI1_1 .064689 .032696 1.97848 [.048] DF1_1 .102915E-02 .012704 .081009 [.935] DI2_1 .183468E-02 .043765 .041921 [.967] DF2_1 .016949 .668794E-02 2.53428 [.011] S1_1 -.155299 .070657 -2.19793 [.028] S2_1 .104545 .063536 1.64546 [.100] S3_1 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB1 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #2 ===================== EQUATIONS: EQ_NB2 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_2 2.68821 .437958 6.13804 [.000] A3_2 .287921 .110018 2.61703 [.009] A2_2 .264739 .108419 2.44182 [.015] P0_2 -.091613 .042356 -2.16292 [.031] P1_2 -.023908 .024436 -.978408 [.328] P2_2 .152073E-02 .024831 .061243 [.951] P3_2 -.017151 .024544 -.698799 [.485] P4_2 -.073057 .029939 -2.44016 [.015] P5_2 -.325108E-02 .030079 -.108085 [.914] P6_2 -.042831 .034999 -1.22375 [.221] P7_2 -.076118 .024772 -3.07279 [.002] P8_2 -.848989E-02 .024057 -.352913 [.724] P9_2 -.029677 .024905 -1.19161 [.233] P10_2 .016636 .023864 .697113 [.486] P11_2 -.321216E-02 .028491 -.112743 [.910] P12_2 -.042283 .026196 -1.61411 [.107] P13_2 .014139 .024928 .567201 [.571] P14_2 -.028435 .023999 -1.18483 [.236] P15_2 -.028458 .023762 -1.19762 [.231] P16_2 -.044362 .024861 -1.78440 [.074] P17_2 -.028311 .024525 -1.15439 [.248] P18_2 .020133 .032351 .622342 [.534] P19_2 -.020394 .028248 -.721963 [.470] P20_2 .502482E-02 .023425 .214505 [.830] P21_2 .064802 .027299 2.37378 [.018] DI1_2 .064689 .032696 1.97848 [.048] DF1_2 .102915E-02 .012704 .081009 [.935] DI2_2 .183468E-02 .043765 .041921 [.967] DF2_2 .016949 .668794E-02 2.53428 [.011] S1_2 -.155299 .070657 -2.19793 [.028] S2_2 .104545 .063536 1.64546 [.100] S3_2 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB2 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #3 ===================== EQUATIONS: EQ_NB3 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_3 2.68821 .437958 6.13804 [.000] A3_3 .287921 .110018 2.61703 [.009] A2_3 .264739 .108419 2.44182 [.015] P0_3 -.091613 .042356 -2.16292 [.031] P1_3 -.023908 .024436 -.978408 [.328] P2_3 .152073E-02 .024831 .061243 [.951] P3_3 -.017151 .024544 -.698799 [.485] P4_3 -.073057 .029939 -2.44016 [.015] P5_3 -.325108E-02 .030079 -.108085 [.914] P6_3 -.042831 .034999 -1.22375 [.221] P7_3 -.076118 .024772 -3.07279 [.002] P8_3 -.848989E-02 .024057 -.352913 [.724] P9_3 -.029677 .024905 -1.19161 [.233] P10_3 .016636 .023864 .697113 [.486] P11_3 -.321216E-02 .028491 -.112743 [.910] P12_3 -.042283 .026196 -1.61411 [.107] P13_3 .014139 .024928 .567201 [.571] P14_3 -.028435 .023999 -1.18483 [.236] P15_3 -.028458 .023762 -1.19762 [.231] P16_3 -.044362 .024861 -1.78440 [.074] P17_3 -.028311 .024525 -1.15439 [.248] P18_3 .020133 .032351 .622342 [.534] P19_3 -.020394 .028248 -.721963 [.470] P20_3 .502482E-02 .023425 .214505 [.830] P21_3 .064802 .027299 2.37378 [.018] DI1_3 .064689 .032696 1.97848 [.048] DF1_3 .102915E-02 .012704 .081009 [.935] DI2_3 .183468E-02 .043765 .041921 [.967] DF2_3 .016949 .668794E-02 2.53428 [.011] S1_3 -.155299 .070657 -2.19793 [.028] S2_3 .104545 .063536 1.64546 [.100] S3_3 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB3 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #4 ===================== EQUATIONS: EQ_NB4 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_4 2.68821 .437958 6.13804 [.000] A3_4 .287921 .110018 2.61703 [.009] A2_4 .264739 .108419 2.44182 [.015] P0_4 -.091613 .042356 -2.16292 [.031] P1_4 -.023908 .024436 -.978408 [.328] P2_4 .152073E-02 .024831 .061243 [.951] P3_4 -.017151 .024544 -.698799 [.485] P4_4 -.073057 .029939 -2.44016 [.015] P5_4 -.325108E-02 .030079 -.108085 [.914] P6_4 -.042831 .034999 -1.22375 [.221] P7_4 -.076118 .024772 -3.07279 [.002] P8_4 -.848989E-02 .024057 -.352913 [.724] P9_4 -.029677 .024905 -1.19161 [.233] P10_4 .016636 .023864 .697113 [.486] P11_4 -.321216E-02 .028491 -.112743 [.910] P12_4 -.042283 .026196 -1.61411 [.107] P13_4 .014139 .024928 .567201 [.571] P14_4 -.028435 .023999 -1.18483 [.236] P15_4 -.028458 .023762 -1.19762 [.231] P16_4 -.044362 .024861 -1.78440 [.074] P17_4 -.028311 .024525 -1.15439 [.248] P18_4 .020133 .032351 .622342 [.534] P19_4 -.020394 .028248 -.721963 [.470] P20_4 .502482E-02 .023425 .214505 [.830] P21_4 .064802 .027299 2.37378 [.018] DI1_4 .064689 .032696 1.97848 [.048] DF1_4 .102915E-02 .012704 .081009 [.935] DI2_4 .183468E-02 .043765 .041921 [.967] DF2_4 .016949 .668794E-02 2.53428 [.011] S1_4 -.155299 .070657 -2.19793 [.028] S2_4 .104545 .063536 1.64546 [.100] S3_4 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB4 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #5 ===================== EQUATIONS: EQ_NB5 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_5 2.68821 .437958 6.13804 [.000] A3_5 .287921 .110018 2.61703 [.009] A2_5 .264739 .108419 2.44182 [.015] P0_5 -.091613 .042356 -2.16292 [.031] P1_5 -.023908 .024436 -.978408 [.328] P2_5 .152073E-02 .024831 .061243 [.951] P3_5 -.017151 .024544 -.698799 [.485] P4_5 -.073057 .029939 -2.44016 [.015] P5_5 -.325108E-02 .030079 -.108085 [.914] P6_5 -.042831 .034999 -1.22375 [.221] P7_5 -.076118 .024772 -3.07279 [.002] P8_5 -.848989E-02 .024057 -.352913 [.724] P9_5 -.029677 .024905 -1.19161 [.233] P10_5 .016636 .023864 .697113 [.486] P11_5 -.321216E-02 .028491 -.112743 [.910] P12_5 -.042283 .026196 -1.61411 [.107] P13_5 .014139 .024928 .567201 [.571] P14_5 -.028435 .023999 -1.18483 [.236] P15_5 -.028458 .023762 -1.19762 [.231] P16_5 -.044362 .024861 -1.78440 [.074] P17_5 -.028311 .024525 -1.15439 [.248] P18_5 .020133 .032351 .622342 [.534] P19_5 -.020394 .028248 -.721963 [.470] P20_5 .502482E-02 .023425 .214505 [.830] P21_5 .064802 .027299 2.37378 [.018] DI1_5 .064689 .032696 1.97848 [.048] DF1_5 .102915E-02 .012704 .081009 [.935] DI2_5 .183468E-02 .043765 .041921 [.967] DF2_5 .016949 .668794E-02 2.53428 [.011] S1_5 -.155299 .070657 -2.19793 [.028] S2_5 .104545 .063536 1.64546 [.100] S3_5 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB5 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #6 ===================== EQUATIONS: EQ_NB6 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_6 2.68821 .437958 6.13804 [.000] A3_6 .287921 .110018 2.61703 [.009] A2_6 .264739 .108419 2.44182 [.015] P0_6 -.091613 .042356 -2.16292 [.031] P1_6 -.023908 .024436 -.978408 [.328] P2_6 .152073E-02 .024831 .061243 [.951] P3_6 -.017151 .024544 -.698799 [.485] P4_6 -.073057 .029939 -2.44016 [.015] P5_6 -.325108E-02 .030079 -.108085 [.914] P6_6 -.042831 .034999 -1.22375 [.221] P7_6 -.076118 .024772 -3.07279 [.002] P8_6 -.848989E-02 .024057 -.352913 [.724] P9_6 -.029677 .024905 -1.19161 [.233] P10_6 .016636 .023864 .697113 [.486] P11_6 -.321216E-02 .028491 -.112743 [.910] P12_6 -.042283 .026196 -1.61411 [.107] P13_6 .014139 .024928 .567201 [.571] P14_6 -.028435 .023999 -1.18483 [.236] P15_6 -.028458 .023762 -1.19762 [.231] P16_6 -.044362 .024861 -1.78440 [.074] P17_6 -.028311 .024525 -1.15439 [.248] P18_6 .020133 .032351 .622342 [.534] P19_6 -.020394 .028248 -.721963 [.470] P20_6 .502482E-02 .023425 .214505 [.830] P21_6 .064802 .027299 2.37378 [.018] DI1_6 .064689 .032696 1.97848 [.048] DF1_6 .102915E-02 .012704 .081009 [.935] DI2_6 .183468E-02 .043765 .041921 [.967] DF2_6 .016949 .668794E-02 2.53428 [.011] S1_6 -.155299 .070657 -2.19793 [.028] S2_6 .104545 .063536 1.64546 [.100] S3_6 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB6 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #7 ===================== EQUATIONS: EQ_NB7 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_7 2.68821 .437958 6.13804 [.000] A3_7 .287921 .110018 2.61703 [.009] A2_7 .264739 .108419 2.44182 [.015] P0_7 -.091613 .042356 -2.16292 [.031] P1_7 -.023908 .024436 -.978408 [.328] P2_7 .152073E-02 .024831 .061243 [.951] P3_7 -.017151 .024544 -.698799 [.485] P4_7 -.073057 .029939 -2.44016 [.015] P5_7 -.325108E-02 .030079 -.108085 [.914] P6_7 -.042831 .034999 -1.22375 [.221] P7_7 -.076118 .024772 -3.07279 [.002] P8_7 -.848989E-02 .024057 -.352913 [.724] P9_7 -.029677 .024905 -1.19161 [.233] P10_7 .016636 .023864 .697113 [.486] P11_7 -.321216E-02 .028491 -.112743 [.910] P12_7 -.042283 .026196 -1.61411 [.107] P13_7 .014139 .024928 .567201 [.571] P14_7 -.028435 .023999 -1.18483 [.236] P15_7 -.028458 .023762 -1.19762 [.231] P16_7 -.044362 .024861 -1.78440 [.074] P17_7 -.028311 .024525 -1.15439 [.248] P18_7 .020133 .032351 .622342 [.534] P19_7 -.020394 .028248 -.721963 [.470] P20_7 .502482E-02 .023425 .214505 [.830] P21_7 .064802 .027299 2.37378 [.018] DI1_7 .064689 .032696 1.97848 [.048] DF1_7 .102915E-02 .012704 .081009 [.935] DI2_7 .183468E-02 .043765 .041921 [.967] DF2_7 .016949 .668794E-02 2.53428 [.011] S1_7 -.155299 .070657 -2.19793 [.028] S2_7 .104545 .063536 1.64546 [.100] S3_7 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB7 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #8 ===================== EQUATIONS: EQ_NB8 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_8 2.68821 .437958 6.13804 [.000] A3_8 .287921 .110018 2.61703 [.009] A2_8 .264739 .108419 2.44182 [.015] P0_8 -.091613 .042356 -2.16292 [.031] P1_8 -.023908 .024436 -.978408 [.328] P2_8 .152073E-02 .024831 .061243 [.951] P3_8 -.017151 .024544 -.698799 [.485] P4_8 -.073057 .029939 -2.44016 [.015] P5_8 -.325108E-02 .030079 -.108085 [.914] P6_8 -.042831 .034999 -1.22375 [.221] P7_8 -.076118 .024772 -3.07279 [.002] P8_8 -.848989E-02 .024057 -.352913 [.724] P9_8 -.029677 .024905 -1.19161 [.233] P10_8 .016636 .023864 .697113 [.486] P11_8 -.321216E-02 .028491 -.112743 [.910] P12_8 -.042283 .026196 -1.61411 [.107] P13_8 .014139 .024928 .567201 [.571] P14_8 -.028435 .023999 -1.18483 [.236] P15_8 -.028458 .023762 -1.19762 [.231] P16_8 -.044362 .024861 -1.78440 [.074] P17_8 -.028311 .024525 -1.15439 [.248] P18_8 .020133 .032351 .622342 [.534] P19_8 -.020394 .028248 -.721963 [.470] P20_8 .502482E-02 .023425 .214505 [.830] P21_8 .064802 .027299 2.37378 [.018] DI1_8 .064689 .032696 1.97848 [.048] DF1_8 .102915E-02 .012704 .081009 [.935] DI2_8 .183468E-02 .043765 .041921 [.967] DF2_8 .016949 .668794E-02 2.53428 [.011] S1_8 -.155299 .070657 -2.19793 [.028] S2_8 .104545 .063536 1.64546 [.100] S3_8 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB8 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #9 ===================== EQUATIONS: EQ_NB9 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_9 2.68821 .437958 6.13804 [.000] A3_9 .287921 .110018 2.61703 [.009] A2_9 .264739 .108419 2.44182 [.015] P0_9 -.091613 .042356 -2.16292 [.031] P1_9 -.023908 .024436 -.978408 [.328] P2_9 .152073E-02 .024831 .061243 [.951] P3_9 -.017151 .024544 -.698799 [.485] P4_9 -.073057 .029939 -2.44016 [.015] P5_9 -.325108E-02 .030079 -.108085 [.914] P6_9 -.042831 .034999 -1.22375 [.221] P7_9 -.076118 .024772 -3.07279 [.002] P8_9 -.848989E-02 .024057 -.352913 [.724] P9_9 -.029677 .024905 -1.19161 [.233] P10_9 .016636 .023864 .697113 [.486] P11_9 -.321216E-02 .028491 -.112743 [.910] P12_9 -.042283 .026196 -1.61411 [.107] P13_9 .014139 .024928 .567201 [.571] P14_9 -.028435 .023999 -1.18483 [.236] P15_9 -.028458 .023762 -1.19762 [.231] P16_9 -.044362 .024861 -1.78440 [.074] P17_9 -.028311 .024525 -1.15439 [.248] P18_9 .020133 .032351 .622342 [.534] P19_9 -.020394 .028248 -.721963 [.470] P20_9 .502482E-02 .023425 .214505 [.830] P21_9 .064802 .027299 2.37378 [.018] DI1_9 .064689 .032696 1.97848 [.048] DF1_9 .102915E-02 .012704 .081009 [.935] DI2_9 .183468E-02 .043765 .041921 [.967] DF2_9 .016949 .668794E-02 2.53428 [.011] S1_9 -.155299 .070657 -2.19793 [.028] S2_9 .104545 .063536 1.64546 [.100] S3_9 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB9 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #10 ====================== EQUATIONS: EQ_NB10 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_10 2.68821 .437958 6.13804 [.000] A3_10 .287921 .110018 2.61703 [.009] A2_10 .264739 .108419 2.44182 [.015] P0_10 -.091613 .042356 -2.16292 [.031] P1_10 -.023908 .024436 -.978408 [.328] P2_10 .152073E-02 .024831 .061243 [.951] P3_10 -.017151 .024544 -.698799 [.485] P4_10 -.073057 .029939 -2.44016 [.015] P5_10 -.325108E-02 .030079 -.108085 [.914] P6_10 -.042831 .034999 -1.22375 [.221] P7_10 -.076118 .024772 -3.07279 [.002] P8_10 -.848989E-02 .024057 -.352913 [.724] P9_10 -.029677 .024905 -1.19161 [.233] P10_10 .016636 .023864 .697113 [.486] P11_10 -.321216E-02 .028491 -.112743 [.910] P12_10 -.042283 .026196 -1.61411 [.107] P13_10 .014139 .024928 .567201 [.571] P14_10 -.028435 .023999 -1.18483 [.236] P15_10 -.028458 .023762 -1.19762 [.231] P16_10 -.044362 .024861 -1.78440 [.074] P17_10 -.028311 .024525 -1.15439 [.248] P18_10 .020133 .032351 .622342 [.534] P19_10 -.020394 .028248 -.721963 [.470] P20_10 .502482E-02 .023425 .214505 [.830] P21_10 .064802 .027299 2.37378 [.018] DI1_10 .064689 .032696 1.97848 [.048] DF1_10 .102915E-02 .012704 .081009 [.935] DI2_10 .183468E-02 .043765 .041921 [.967] DF2_10 .016949 .668794E-02 2.53428 [.011] S1_10 -.155299 .070657 -2.19793 [.028] S2_10 .104545 .063536 1.64546 [.100] S3_10 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB10 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #11 ====================== EQUATIONS: EQ_NB11 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_11 2.68821 .437958 6.13804 [.000] A3_11 .287921 .110018 2.61703 [.009] A2_11 .264739 .108419 2.44182 [.015] P0_11 -.091613 .042356 -2.16292 [.031] P1_11 -.023908 .024436 -.978408 [.328] P2_11 .152073E-02 .024831 .061243 [.951] P3_11 -.017151 .024544 -.698799 [.485] P4_11 -.073057 .029939 -2.44016 [.015] P5_11 -.325108E-02 .030079 -.108085 [.914] P6_11 -.042831 .034999 -1.22375 [.221] P7_11 -.076118 .024772 -3.07279 [.002] P8_11 -.848989E-02 .024057 -.352913 [.724] P9_11 -.029677 .024905 -1.19161 [.233] P10_11 .016636 .023864 .697113 [.486] P11_11 -.321216E-02 .028491 -.112743 [.910] P12_11 -.042283 .026196 -1.61411 [.107] P13_11 .014139 .024928 .567201 [.571] P14_11 -.028435 .023999 -1.18483 [.236] P15_11 -.028458 .023762 -1.19762 [.231] P16_11 -.044362 .024861 -1.78440 [.074] P17_11 -.028311 .024525 -1.15439 [.248] P18_11 .020133 .032351 .622342 [.534] P19_11 -.020394 .028248 -.721963 [.470] P20_11 .502482E-02 .023425 .214505 [.830] P21_11 .064802 .027299 2.37378 [.018] DI1_11 .064689 .032696 1.97848 [.048] DF1_11 .102915E-02 .012704 .081009 [.935] DI2_11 .183468E-02 .043765 .041921 [.967] DF2_11 .016949 .668794E-02 2.53428 [.011] S1_11 -.155299 .070657 -2.19793 [.028] S2_11 .104545 .063536 1.64546 [.100] S3_11 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB11 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #12 ====================== EQUATIONS: EQ_NB12 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_12 2.68821 .437958 6.13804 [.000] A3_12 .287921 .110018 2.61703 [.009] A2_12 .264739 .108419 2.44182 [.015] P0_12 -.091613 .042356 -2.16292 [.031] P1_12 -.023908 .024436 -.978408 [.328] P2_12 .152073E-02 .024831 .061243 [.951] P3_12 -.017151 .024544 -.698799 [.485] P4_12 -.073057 .029939 -2.44016 [.015] P5_12 -.325108E-02 .030079 -.108085 [.914] P6_12 -.042831 .034999 -1.22375 [.221] P7_12 -.076118 .024772 -3.07279 [.002] P8_12 -.848989E-02 .024057 -.352913 [.724] P9_12 -.029677 .024905 -1.19161 [.233] P10_12 .016636 .023864 .697113 [.486] P11_12 -.321216E-02 .028491 -.112743 [.910] P12_12 -.042283 .026196 -1.61411 [.107] P13_12 .014139 .024928 .567201 [.571] P14_12 -.028435 .023999 -1.18483 [.236] P15_12 -.028458 .023762 -1.19762 [.231] P16_12 -.044362 .024861 -1.78440 [.074] P17_12 -.028311 .024525 -1.15439 [.248] P18_12 .020133 .032351 .622342 [.534] P19_12 -.020394 .028248 -.721963 [.470] P20_12 .502482E-02 .023425 .214505 [.830] P21_12 .064802 .027299 2.37378 [.018] DI1_12 .064689 .032696 1.97848 [.048] DF1_12 .102915E-02 .012704 .081009 [.935] DI2_12 .183468E-02 .043765 .041921 [.967] DF2_12 .016949 .668794E-02 2.53428 [.011] S1_12 -.155299 .070657 -2.19793 [.028] S2_12 .104545 .063536 1.64546 [.100] S3_12 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB12 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #13 ====================== EQUATIONS: EQ_NB13 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_13 2.68821 .437958 6.13804 [.000] A3_13 .287921 .110018 2.61703 [.009] A2_13 .264739 .108419 2.44182 [.015] P0_13 -.091613 .042356 -2.16292 [.031] P1_13 -.023908 .024436 -.978408 [.328] P2_13 .152073E-02 .024831 .061243 [.951] P3_13 -.017151 .024544 -.698799 [.485] P4_13 -.073057 .029939 -2.44016 [.015] P5_13 -.325108E-02 .030079 -.108085 [.914] P6_13 -.042831 .034999 -1.22375 [.221] P7_13 -.076118 .024772 -3.07279 [.002] P8_13 -.848989E-02 .024057 -.352913 [.724] P9_13 -.029677 .024905 -1.19161 [.233] P10_13 .016636 .023864 .697113 [.486] P11_13 -.321216E-02 .028491 -.112743 [.910] P12_13 -.042283 .026196 -1.61411 [.107] P13_13 .014139 .024928 .567201 [.571] P14_13 -.028435 .023999 -1.18483 [.236] P15_13 -.028458 .023762 -1.19762 [.231] P16_13 -.044362 .024861 -1.78440 [.074] P17_13 -.028311 .024525 -1.15439 [.248] P18_13 .020133 .032351 .622342 [.534] P19_13 -.020394 .028248 -.721963 [.470] P20_13 .502482E-02 .023425 .214505 [.830] P21_13 .064802 .027299 2.37378 [.018] DI1_13 .064689 .032696 1.97848 [.048] DF1_13 .102915E-02 .012704 .081009 [.935] DI2_13 .183468E-02 .043765 .041921 [.967] DF2_13 .016949 .668794E-02 2.53428 [.011] S1_13 -.155299 .070657 -2.19793 [.028] S2_13 .104545 .063536 1.64546 [.100] S3_13 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB13 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #14 ====================== EQUATIONS: EQ_NB14 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_14 2.68821 .437958 6.13804 [.000] A3_14 .287921 .110018 2.61703 [.009] A2_14 .264739 .108419 2.44182 [.015] P0_14 -.091613 .042356 -2.16292 [.031] P1_14 -.023908 .024436 -.978408 [.328] P2_14 .152073E-02 .024831 .061243 [.951] P3_14 -.017151 .024544 -.698799 [.485] P4_14 -.073057 .029939 -2.44016 [.015] P5_14 -.325108E-02 .030079 -.108085 [.914] P6_14 -.042831 .034999 -1.22375 [.221] P7_14 -.076118 .024772 -3.07279 [.002] P8_14 -.848989E-02 .024057 -.352913 [.724] P9_14 -.029677 .024905 -1.19161 [.233] P10_14 .016636 .023864 .697113 [.486] P11_14 -.321216E-02 .028491 -.112743 [.910] P12_14 -.042283 .026196 -1.61411 [.107] P13_14 .014139 .024928 .567201 [.571] P14_14 -.028435 .023999 -1.18483 [.236] P15_14 -.028458 .023762 -1.19762 [.231] P16_14 -.044362 .024861 -1.78440 [.074] P17_14 -.028311 .024525 -1.15439 [.248] P18_14 .020133 .032351 .622342 [.534] P19_14 -.020394 .028248 -.721963 [.470] P20_14 .502482E-02 .023425 .214505 [.830] P21_14 .064802 .027299 2.37378 [.018] DI1_14 .064689 .032696 1.97848 [.048] DF1_14 .102915E-02 .012704 .081009 [.935] DI2_14 .183468E-02 .043765 .041921 [.967] DF2_14 .016949 .668794E-02 2.53428 [.011] S1_14 -.155299 .070657 -2.19793 [.028] S2_14 .104545 .063536 1.64546 [.100] S3_14 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB14 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #15 ====================== EQUATIONS: EQ_NB15 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_15 2.68821 .437958 6.13804 [.000] A3_15 .287921 .110018 2.61703 [.009] A2_15 .264739 .108419 2.44182 [.015] P0_15 -.091613 .042356 -2.16292 [.031] P1_15 -.023908 .024436 -.978408 [.328] P2_15 .152073E-02 .024831 .061243 [.951] P3_15 -.017151 .024544 -.698799 [.485] P4_15 -.073057 .029939 -2.44016 [.015] P5_15 -.325108E-02 .030079 -.108085 [.914] P6_15 -.042831 .034999 -1.22375 [.221] P7_15 -.076118 .024772 -3.07279 [.002] P8_15 -.848989E-02 .024057 -.352913 [.724] P9_15 -.029677 .024905 -1.19161 [.233] P10_15 .016636 .023864 .697113 [.486] P11_15 -.321216E-02 .028491 -.112743 [.910] P12_15 -.042283 .026196 -1.61411 [.107] P13_15 .014139 .024928 .567201 [.571] P14_15 -.028435 .023999 -1.18483 [.236] P15_15 -.028458 .023762 -1.19762 [.231] P16_15 -.044362 .024861 -1.78440 [.074] P17_15 -.028311 .024525 -1.15439 [.248] P18_15 .020133 .032351 .622342 [.534] P19_15 -.020394 .028248 -.721963 [.470] P20_15 .502482E-02 .023425 .214505 [.830] P21_15 .064802 .027299 2.37378 [.018] DI1_15 .064689 .032696 1.97848 [.048] DF1_15 .102915E-02 .012704 .081009 [.935] DI2_15 .183468E-02 .043765 .041921 [.967] DF2_15 .016949 .668794E-02 2.53428 [.011] S1_15 -.155299 .070657 -2.19793 [.028] S2_15 .104545 .063536 1.64546 [.100] S3_15 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB15 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #16 ====================== EQUATIONS: EQ_NB16 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_16 2.68821 .437958 6.13804 [.000] A3_16 .287921 .110018 2.61703 [.009] A2_16 .264739 .108419 2.44182 [.015] P0_16 -.091613 .042356 -2.16292 [.031] P1_16 -.023908 .024436 -.978408 [.328] P2_16 .152073E-02 .024831 .061243 [.951] P3_16 -.017151 .024544 -.698799 [.485] P4_16 -.073057 .029939 -2.44016 [.015] P5_16 -.325108E-02 .030079 -.108085 [.914] P6_16 -.042831 .034999 -1.22375 [.221] P7_16 -.076118 .024772 -3.07279 [.002] P8_16 -.848989E-02 .024057 -.352913 [.724] P9_16 -.029677 .024905 -1.19161 [.233] P10_16 .016636 .023864 .697113 [.486] P11_16 -.321216E-02 .028491 -.112743 [.910] P12_16 -.042283 .026196 -1.61411 [.107] P13_16 .014139 .024928 .567201 [.571] P14_16 -.028435 .023999 -1.18483 [.236] P15_16 -.028458 .023762 -1.19762 [.231] P16_16 -.044362 .024861 -1.78440 [.074] P17_16 -.028311 .024525 -1.15439 [.248] P18_16 .020133 .032351 .622342 [.534] P19_16 -.020394 .028248 -.721963 [.470] P20_16 .502482E-02 .023425 .214505 [.830] P21_16 .064802 .027299 2.37378 [.018] DI1_16 .064689 .032696 1.97848 [.048] DF1_16 .102915E-02 .012704 .081009 [.935] DI2_16 .183468E-02 .043765 .041921 [.967] DF2_16 .016949 .668794E-02 2.53428 [.011] S1_16 -.155299 .070657 -2.19793 [.028] S2_16 .104545 .063536 1.64546 [.100] S3_16 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB16 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #17 ====================== EQUATIONS: EQ_NB17 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_17 2.68821 .437958 6.13804 [.000] A3_17 .287921 .110018 2.61703 [.009] A2_17 .264739 .108419 2.44182 [.015] P0_17 -.091613 .042356 -2.16292 [.031] P1_17 -.023908 .024436 -.978408 [.328] P2_17 .152073E-02 .024831 .061243 [.951] P3_17 -.017151 .024544 -.698799 [.485] P4_17 -.073057 .029939 -2.44016 [.015] P5_17 -.325108E-02 .030079 -.108085 [.914] P6_17 -.042831 .034999 -1.22375 [.221] P7_17 -.076118 .024772 -3.07279 [.002] P8_17 -.848989E-02 .024057 -.352913 [.724] P9_17 -.029677 .024905 -1.19161 [.233] P10_17 .016636 .023864 .697113 [.486] P11_17 -.321216E-02 .028491 -.112743 [.910] P12_17 -.042283 .026196 -1.61411 [.107] P13_17 .014139 .024928 .567201 [.571] P14_17 -.028435 .023999 -1.18483 [.236] P15_17 -.028458 .023762 -1.19762 [.231] P16_17 -.044362 .024861 -1.78440 [.074] P17_17 -.028311 .024525 -1.15439 [.248] P18_17 .020133 .032351 .622342 [.534] P19_17 -.020394 .028248 -.721963 [.470] P20_17 .502482E-02 .023425 .214505 [.830] P21_17 .064802 .027299 2.37378 [.018] DI1_17 .064689 .032696 1.97848 [.048] DF1_17 .102915E-02 .012704 .081009 [.935] DI2_17 .183468E-02 .043765 .041921 [.967] DF2_17 .016949 .668794E-02 2.53428 [.011] S1_17 -.155299 .070657 -2.19793 [.028] S2_17 .104545 .063536 1.64546 [.100] S3_17 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB17 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #18 ====================== EQUATIONS: EQ_NB18 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_18 2.68821 .437958 6.13804 [.000] A3_18 .287921 .110018 2.61703 [.009] A2_18 .264739 .108419 2.44182 [.015] P0_18 -.091613 .042356 -2.16292 [.031] P1_18 -.023908 .024436 -.978408 [.328] P2_18 .152073E-02 .024831 .061243 [.951] P3_18 -.017151 .024544 -.698799 [.485] P4_18 -.073057 .029939 -2.44016 [.015] P5_18 -.325108E-02 .030079 -.108085 [.914] P6_18 -.042831 .034999 -1.22375 [.221] P7_18 -.076118 .024772 -3.07279 [.002] P8_18 -.848989E-02 .024057 -.352913 [.724] P9_18 -.029677 .024905 -1.19161 [.233] P10_18 .016636 .023864 .697113 [.486] P11_18 -.321216E-02 .028491 -.112743 [.910] P12_18 -.042283 .026196 -1.61411 [.107] P13_18 .014139 .024928 .567201 [.571] P14_18 -.028435 .023999 -1.18483 [.236] P15_18 -.028458 .023762 -1.19762 [.231] P16_18 -.044362 .024861 -1.78440 [.074] P17_18 -.028311 .024525 -1.15439 [.248] P18_18 .020133 .032351 .622342 [.534] P19_18 -.020394 .028248 -.721963 [.470] P20_18 .502482E-02 .023425 .214505 [.830] P21_18 .064802 .027299 2.37378 [.018] DI1_18 .064689 .032696 1.97848 [.048] DF1_18 .102915E-02 .012704 .081009 [.935] DI2_18 .183468E-02 .043765 .041921 [.967] DF2_18 .016949 .668794E-02 2.53428 [.011] S1_18 -.155299 .070657 -2.19793 [.028] S2_18 .104545 .063536 1.64546 [.100] S3_18 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB18 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #19 ====================== EQUATIONS: EQ_NB19 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_19 2.68821 .437958 6.13804 [.000] A3_19 .287921 .110018 2.61703 [.009] A2_19 .264739 .108419 2.44182 [.015] P0_19 -.091613 .042356 -2.16292 [.031] P1_19 -.023908 .024436 -.978408 [.328] P2_19 .152073E-02 .024831 .061243 [.951] P3_19 -.017151 .024544 -.698799 [.485] P4_19 -.073057 .029939 -2.44016 [.015] P5_19 -.325108E-02 .030079 -.108085 [.914] P6_19 -.042831 .034999 -1.22375 [.221] P7_19 -.076118 .024772 -3.07279 [.002] P8_19 -.848989E-02 .024057 -.352913 [.724] P9_19 -.029677 .024905 -1.19161 [.233] P10_19 .016636 .023864 .697113 [.486] P11_19 -.321216E-02 .028491 -.112743 [.910] P12_19 -.042283 .026196 -1.61411 [.107] P13_19 .014139 .024928 .567201 [.571] P14_19 -.028435 .023999 -1.18483 [.236] P15_19 -.028458 .023762 -1.19762 [.231] P16_19 -.044362 .024861 -1.78440 [.074] P17_19 -.028311 .024525 -1.15439 [.248] P18_19 .020133 .032351 .622342 [.534] P19_19 -.020394 .028248 -.721963 [.470] P20_19 .502482E-02 .023425 .214505 [.830] P21_19 .064802 .027299 2.37378 [.018] DI1_19 .064689 .032696 1.97848 [.048] DF1_19 .102915E-02 .012704 .081009 [.935] DI2_19 .183468E-02 .043765 .041921 [.967] DF2_19 .016949 .668794E-02 2.53428 [.011] S1_19 -.155299 .070657 -2.19793 [.028] S2_19 .104545 .063536 1.64546 [.100] S3_19 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB19 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #20 ====================== EQUATIONS: EQ_NB20 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_20 2.68821 .437958 6.13804 [.000] A3_20 .287921 .110018 2.61703 [.009] A2_20 .264739 .108419 2.44182 [.015] P0_20 -.091613 .042356 -2.16292 [.031] P1_20 -.023908 .024436 -.978408 [.328] P2_20 .152073E-02 .024831 .061243 [.951] P3_20 -.017151 .024544 -.698799 [.485] P4_20 -.073057 .029939 -2.44016 [.015] P5_20 -.325108E-02 .030079 -.108085 [.914] P6_20 -.042831 .034999 -1.22375 [.221] P7_20 -.076118 .024772 -3.07279 [.002] P8_20 -.848989E-02 .024057 -.352913 [.724] P9_20 -.029677 .024905 -1.19161 [.233] P10_20 .016636 .023864 .697113 [.486] P11_20 -.321216E-02 .028491 -.112743 [.910] P12_20 -.042283 .026196 -1.61411 [.107] P13_20 .014139 .024928 .567201 [.571] P14_20 -.028435 .023999 -1.18483 [.236] P15_20 -.028458 .023762 -1.19762 [.231] P16_20 -.044362 .024861 -1.78440 [.074] P17_20 -.028311 .024525 -1.15439 [.248] P18_20 .020133 .032351 .622342 [.534] P19_20 -.020394 .028248 -.721963 [.470] P20_20 .502482E-02 .023425 .214505 [.830] P21_20 .064802 .027299 2.37378 [.018] DI1_20 .064689 .032696 1.97848 [.048] DF1_20 .102915E-02 .012704 .081009 [.935] DI2_20 .183468E-02 .043765 .041921 [.967] DF2_20 .016949 .668794E-02 2.53428 [.011] S1_20 -.155299 .070657 -2.19793 [.028] S2_20 .104545 .063536 1.64546 [.100] S3_20 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB20 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #21 ====================== EQUATIONS: EQ_NB21 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_21 2.68821 .437958 6.13804 [.000] A3_21 .287921 .110018 2.61703 [.009] A2_21 .264739 .108419 2.44182 [.015] P0_21 -.091613 .042356 -2.16292 [.031] P1_21 -.023908 .024436 -.978408 [.328] P2_21 .152073E-02 .024831 .061243 [.951] P3_21 -.017151 .024544 -.698799 [.485] P4_21 -.073057 .029939 -2.44016 [.015] P5_21 -.325108E-02 .030079 -.108085 [.914] P6_21 -.042831 .034999 -1.22375 [.221] P7_21 -.076118 .024772 -3.07279 [.002] P8_21 -.848989E-02 .024057 -.352913 [.724] P9_21 -.029677 .024905 -1.19161 [.233] P10_21 .016636 .023864 .697113 [.486] P11_21 -.321216E-02 .028491 -.112743 [.910] P12_21 -.042283 .026196 -1.61411 [.107] P13_21 .014139 .024928 .567201 [.571] P14_21 -.028435 .023999 -1.18483 [.236] P15_21 -.028458 .023762 -1.19762 [.231] P16_21 -.044362 .024861 -1.78440 [.074] P17_21 -.028311 .024525 -1.15439 [.248] P18_21 .020133 .032351 .622342 [.534] P19_21 -.020394 .028248 -.721963 [.470] P20_21 .502482E-02 .023425 .214505 [.830] P21_21 .064802 .027299 2.37378 [.018] DI1_21 .064689 .032696 1.97848 [.048] DF1_21 .102915E-02 .012704 .081009 [.935] DI2_21 .183468E-02 .043765 .041921 [.967] DF2_21 .016949 .668794E-02 2.53428 [.011] S1_21 -.155299 .070657 -2.19793 [.028] S2_21 .104545 .063536 1.64546 [.100] S3_21 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB21 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #22 ====================== EQUATIONS: EQ_NB22 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_22 2.68821 .437958 6.13804 [.000] A3_22 .287921 .110018 2.61703 [.009] A2_22 .264739 .108419 2.44182 [.015] P0_22 -.091613 .042356 -2.16292 [.031] P1_22 -.023908 .024436 -.978408 [.328] P2_22 .152073E-02 .024831 .061243 [.951] P3_22 -.017151 .024544 -.698799 [.485] P4_22 -.073057 .029939 -2.44016 [.015] P5_22 -.325108E-02 .030079 -.108085 [.914] P6_22 -.042831 .034999 -1.22375 [.221] P7_22 -.076118 .024772 -3.07279 [.002] P8_22 -.848989E-02 .024057 -.352913 [.724] P9_22 -.029677 .024905 -1.19161 [.233] P10_22 .016636 .023864 .697113 [.486] P11_22 -.321216E-02 .028491 -.112743 [.910] P12_22 -.042283 .026196 -1.61411 [.107] P13_22 .014139 .024928 .567201 [.571] P14_22 -.028435 .023999 -1.18483 [.236] P15_22 -.028458 .023762 -1.19762 [.231] P16_22 -.044362 .024861 -1.78440 [.074] P17_22 -.028311 .024525 -1.15439 [.248] P18_22 .020133 .032351 .622342 [.534] P19_22 -.020394 .028248 -.721963 [.470] P20_22 .502482E-02 .023425 .214505 [.830] P21_22 .064802 .027299 2.37378 [.018] DI1_22 .064689 .032696 1.97848 [.048] DF1_22 .102915E-02 .012704 .081009 [.935] DI2_22 .183468E-02 .043765 .041921 [.967] DF2_22 .016949 .668794E-02 2.53428 [.011] S1_22 -.155299 .070657 -2.19793 [.028] S2_22 .104545 .063536 1.64546 [.100] S3_22 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB22 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #23 ====================== EQUATIONS: EQ_NB23 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_23 2.68821 .437958 6.13804 [.000] A3_23 .287921 .110018 2.61703 [.009] A2_23 .264739 .108419 2.44182 [.015] P0_23 -.091613 .042356 -2.16292 [.031] P1_23 -.023908 .024436 -.978408 [.328] P2_23 .152073E-02 .024831 .061243 [.951] P3_23 -.017151 .024544 -.698799 [.485] P4_23 -.073057 .029939 -2.44016 [.015] P5_23 -.325108E-02 .030079 -.108085 [.914] P6_23 -.042831 .034999 -1.22375 [.221] P7_23 -.076118 .024772 -3.07279 [.002] P8_23 -.848989E-02 .024057 -.352913 [.724] P9_23 -.029677 .024905 -1.19161 [.233] P10_23 .016636 .023864 .697113 [.486] P11_23 -.321216E-02 .028491 -.112743 [.910] P12_23 -.042283 .026196 -1.61411 [.107] P13_23 .014139 .024928 .567201 [.571] P14_23 -.028435 .023999 -1.18483 [.236] P15_23 -.028458 .023762 -1.19762 [.231] P16_23 -.044362 .024861 -1.78440 [.074] P17_23 -.028311 .024525 -1.15439 [.248] P18_23 .020133 .032351 .622342 [.534] P19_23 -.020394 .028248 -.721963 [.470] P20_23 .502482E-02 .023425 .214505 [.830] P21_23 .064802 .027299 2.37378 [.018] DI1_23 .064689 .032696 1.97848 [.048] DF1_23 .102915E-02 .012704 .081009 [.935] DI2_23 .183468E-02 .043765 .041921 [.967] DF2_23 .016949 .668794E-02 2.53428 [.011] S1_23 -.155299 .070657 -2.19793 [.028] S2_23 .104545 .063536 1.64546 [.100] S3_23 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB23 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #24 ====================== EQUATIONS: EQ_NB24 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_24 2.68821 .437958 6.13804 [.000] A3_24 .287921 .110018 2.61703 [.009] A2_24 .264739 .108419 2.44182 [.015] P0_24 -.091613 .042356 -2.16292 [.031] P1_24 -.023908 .024436 -.978408 [.328] P2_24 .152073E-02 .024831 .061243 [.951] P3_24 -.017151 .024544 -.698799 [.485] P4_24 -.073057 .029939 -2.44016 [.015] P5_24 -.325108E-02 .030079 -.108085 [.914] P6_24 -.042831 .034999 -1.22375 [.221] P7_24 -.076118 .024772 -3.07279 [.002] P8_24 -.848989E-02 .024057 -.352913 [.724] P9_24 -.029677 .024905 -1.19161 [.233] P10_24 .016636 .023864 .697113 [.486] P11_24 -.321216E-02 .028491 -.112743 [.910] P12_24 -.042283 .026196 -1.61411 [.107] P13_24 .014139 .024928 .567201 [.571] P14_24 -.028435 .023999 -1.18483 [.236] P15_24 -.028458 .023762 -1.19762 [.231] P16_24 -.044362 .024861 -1.78440 [.074] P17_24 -.028311 .024525 -1.15439 [.248] P18_24 .020133 .032351 .622342 [.534] P19_24 -.020394 .028248 -.721963 [.470] P20_24 .502482E-02 .023425 .214505 [.830] P21_24 .064802 .027299 2.37378 [.018] DI1_24 .064689 .032696 1.97848 [.048] DF1_24 .102915E-02 .012704 .081009 [.935] DI2_24 .183468E-02 .043765 .041921 [.967] DF2_24 .016949 .668794E-02 2.53428 [.011] S1_24 -.155299 .070657 -2.19793 [.028] S2_24 .104545 .063536 1.64546 [.100] S3_24 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB24 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766] INVESTOR #25 ====================== EQUATIONS: EQ_NB25 NOB 779 SBIC 874.286 LOGL -767.758 Standard Parameter Estimate Error t-statistic P-value C_25 2.68821 .437958 6.13804 [.000] A3_25 .287921 .110018 2.61703 [.009] A2_25 .264739 .108419 2.44182 [.015] P0_25 -.091613 .042356 -2.16292 [.031] P1_25 -.023908 .024436 -.978408 [.328] P2_25 .152073E-02 .024831 .061243 [.951] P3_25 -.017151 .024544 -.698799 [.485] P4_25 -.073057 .029939 -2.44016 [.015] P5_25 -.325108E-02 .030079 -.108085 [.914] P6_25 -.042831 .034999 -1.22375 [.221] P7_25 -.076118 .024772 -3.07279 [.002] P8_25 -.848989E-02 .024057 -.352913 [.724] P9_25 -.029677 .024905 -1.19161 [.233] P10_25 .016636 .023864 .697113 [.486] P11_25 -.321216E-02 .028491 -.112743 [.910] P12_25 -.042283 .026196 -1.61411 [.107] P13_25 .014139 .024928 .567201 [.571] P14_25 -.028435 .023999 -1.18483 [.236] P15_25 -.028458 .023762 -1.19762 [.231] P16_25 -.044362 .024861 -1.78440 [.074] P17_25 -.028311 .024525 -1.15439 [.248] P18_25 .020133 .032351 .622342 [.534] P19_25 -.020394 .028248 -.721963 [.470] P20_25 .502482E-02 .023425 .214505 [.830] P21_25 .064802 .027299 2.37378 [.018] DI1_25 .064689 .032696 1.97848 [.048] DF1_25 .102915E-02 .012704 .081009 [.935] DI2_25 .183468E-02 .043765 .041921 [.967] DF2_25 .016949 .668794E-02 2.53428 [.011] S1_25 -.155299 .070657 -2.19793 [.028] S2_25 .104545 .063536 1.64546 [.100] S3_25 .142652 .046473 3.06953 [.002] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_NB25 Dependent variable: LPSE YMEAN 5.13458 S2 .438326 ARSQ .552364 SDEV .989545 S .662062 LMHET .053401 [.817] SSR 327.429 RSQ .570200 DW 1.93951 [<.766]